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Songwon reports progress on global expansion

November 27, 2012

ULSAN, SOUTH KOREA (Nov. 27, 12:25 p.m. ET) — South Korean polymer additives maker Songwon Industrial Co. Ltd. has announced the location of its new Middle East plant. Also on the overseas expansion front, its joint venture plant in China is now fully operational.

Songwon Additive Technologies AG and Polysys Industries will establish a joint venture Polysys Additive Technologies ME, which will build an OPS (One Pack Systems) manufacturing plant in Kizad (Khalifa Industrial City of Abu Dhabi), Abu Dhabi. Construction is expected to complete in about 12 months. The new facility will have an initial capacity of 7,000 metric tons with potential to expand in the future.

Songwon Additive Technologies AG is a joint venture between Ulsan-based Songwon Industrial Group, Pan Gulf Holding Co. of Saudi Arabia and Polysys Industries of Abu Dhabi.

In Asia, Songwon’s Chinese JV Baifu Chemicals (Tangshan) Co. Ltd. commenced its operations on July 1 with a production capacity of 8,000 metric tons of thioester antioxidants. Thioesters such as DLTDP, DSTDP, DTDTP and DMTDP, are widely used in PE, PP, ABS, HIPS, polyester and polyamide, as well as other materials.